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CGEAF (Cogeco Communications) Piotroski F-Score : 7 (As of Mar. 04, 2025)


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What is Cogeco Communications Piotroski F-Score?

Good Sign:

Piotroski F-Score is 7, indicates a very healthy situation.

The zones of discrimination were as such:

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Cogeco Communications has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

The historical rank and industry rank for Cogeco Communications's Piotroski F-Score or its related term are showing as below:

CGEAF' s Piotroski F-Score Range Over the Past 10 Years
Min: 4   Med: 6   Max: 8
Current: 7

During the past 13 years, the highest Piotroski F-Score of Cogeco Communications was 8. The lowest was 4. And the median was 6.


Cogeco Communications Piotroski F-Score Historical Data

The historical data trend for Cogeco Communications's Piotroski F-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Cogeco Communications Piotroski F-Score Chart

Cogeco Communications Annual Data
Trend Aug15 Aug16 Aug17 Aug18 Aug19 Aug20 Aug21 Aug22 Aug23 Aug24
Piotroski F-Score
Get a 7-Day Free Trial Premium Member Only Premium Member Only 6.00 7.00 6.00 5.00 6.00

Cogeco Communications Quarterly Data
Feb20 May20 Aug20 Nov20 Feb21 May21 Aug21 Nov21 Feb22 May22 Aug22 Nov22 Feb23 May23 Aug23 Nov23 Feb24 May24 Aug24 Nov24
Piotroski F-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.00 5.00 5.00 6.00 7.00

Competitive Comparison of Cogeco Communications's Piotroski F-Score

For the Telecom Services subindustry, Cogeco Communications's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Cogeco Communications's Piotroski F-Score Distribution in the Telecommunication Services Industry

For the Telecommunication Services industry and Communication Services sector, Cogeco Communications's Piotroski F-Score distribution charts can be found below:

* The bar in red indicates where Cogeco Communications's Piotroski F-Score falls into.


How is the Piotroski F-Score calculated?

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Nov24) TTM:Last Year (Nov23) TTM:
Net Income was 69.393 + 51.512 + 60.021 + 71.987 = $253 Mil.
Cash Flow from Operations was 211.433 + 244.111 + 233.744 + 156.634 = $846 Mil.
Revenue was 541.112 + 549.194 + 547.602 + 528.659 = $2,167 Mil.
Gross Profit was 452.369 + 458.27 + 461.339 + 528.659 = $1,901 Mil.
Average Total Assets from the begining of this year (Nov23)
to the end of this year (Nov24) was
(6931.857 + 7121.93 + 7154.703 + 7085.323 + 7097.837) / 5 = $7078.33 Mil.
Total Assets at the begining of this year (Nov23) was $6,932 Mil.
Long-Term Debt & Capital Lease Obligation was $3,289 Mil.
Total Current Assets was $209 Mil.
Total Current Liabilities was $561 Mil.
Net Income was 73.122 + 70.942 + 64.178 + 65.29 = $274 Mil.

Revenue was 547.529 + 548.779 + 551.563 + 545.48 = $2,193 Mil.
Gross Profit was 457.185 + 457.224 + 456.956 + 456.136 = $1,828 Mil.
Average Total Assets from the begining of last year (Nov22)
to the end of last year (Nov23) was
(7124.468 + 7153.643 + 7232.944 + 7247.641 + 6931.857) / 5 = $7138.1106 Mil.
Total Assets at the begining of last year (Nov22) was $7,124 Mil.
Long-Term Debt & Capital Lease Obligation was $3,409 Mil.
Total Current Assets was $210 Mil.
Total Current Liabilities was $356 Mil.

*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.

Profitability

Question 1. Return on Assets (ROA)

Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Cogeco Communications's current Net Income (TTM) was 253. ==> Positive ==> Score 1.

Question 2. Cash Flow Return on Assets (CFROA)

Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.

Score 1 if positive, 0 if negative.

Cogeco Communications's current Cash Flow from Operations (TTM) was 846. ==> Positive ==> Score 1.

Question 3. Change in Return on Assets

Compare this year's return on assets (1) to last year's return on assets.

Score 1 if it's higher, 0 if it's lower.

ROA (This Year)=Net Income/Total Assets (Nov23)
=252.913/6931.857
=0.03648561

ROA (Last Year)=Net Income/Total Assets (Nov22)
=273.532/7124.468
=0.03839332

Cogeco Communications's return on assets of this year was 0.03648561. Cogeco Communications's return on assets of last year was 0.03839332. ==> Last year is higher ==> Score 0.

Question 4. Quality of Earnings (Accrual)

Compare Cash flow return on assets (2) to return on assets (1)

Score 1 if CFROA > ROA, 0 if CFROA <= ROA.

Cogeco Communications's current Net Income (TTM) was 253. Cogeco Communications's current Cash Flow from Operations (TTM) was 846. ==> 846 > 253 ==> CFROA > ROA ==> Score 1.

Funding

Question 5. Change in Gearing or Leverage

Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.

Score 0 if this year's gearing is higher, 1 otherwise.

Gearing (This Year: Nov24)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Nov23 to Nov24
=3288.826/7078.33
=0.46463304

Gearing (Last Year: Nov23)=Long-Term Debt & Capital Lease Obligation/Average Total Assets from Nov22 to Nov23
=3409.017/7138.1106
=0.47757974

Cogeco Communications's gearing of this year was 0.46463304. Cogeco Communications's gearing of last year was 0.47757974. ==> This year is lower or equal to last year. ==> Score 1.

Question 6. Change in Working Capital (Liquidity)

Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.

Score 1 if this year's current ratio is higher, 0 if it's lower

Current Ratio (This Year: Nov24)=Total Current Assets/Total Current Liabilities
=208.579/561.202
=0.37166475

Current Ratio (Last Year: Nov23)=Total Current Assets/Total Current Liabilities
=210.305/355.641
=0.59134071

Cogeco Communications's current ratio of this year was 0.37166475. Cogeco Communications's current ratio of last year was 0.59134071. ==> Last year's current ratio is higher ==> Score 0.

Question 7. Change in Shares in Issue

Compare the number of shares in issue this year, to the number in issue last year.

Score 0 if there is larger number of shares in issue this year, 1 otherwise.

Cogeco Communications's number of shares in issue this year was 42.302. Cogeco Communications's number of shares in issue last year was 44.454. ==> There is smaller number of shares in issue this year, or the same. ==> Score 1.

Efficiency

Question 8. Change in Gross Margin

Compare this year's gross margin (Gross Profit divided by sales) to last year's.

Score 1 if this year's gross margin is higher, 0 if it's lower.

Gross Margin (This Year: TTM)=Gross Profit/Revenue
=1900.637/2166.567
=0.87725743

Gross Margin (Last Year: TTM)=Gross Profit/Revenue
=1827.501/2193.351
=0.83320043

Cogeco Communications's gross margin of this year was 0.87725743. Cogeco Communications's gross margin of last year was 0.83320043. ==> This year's gross margin is higher. ==> Score 1.

Question 9. Change in asset turnover

Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.

Score 1 if this year's asset turnover ratio is higher, 0 if it's lower

Asset Turnover (This Year)=Revenue/Total Assets at the Beginning of This Year (Nov23)
=2166.567/6931.857
=0.31255218

Asset Turnover (Last Year)=Revenue/Total Assets at the Beginning of Last Year (Nov22)
=2193.351/7124.468
=0.30786172

Cogeco Communications's asset turnover of this year was 0.31255218. Cogeco Communications's asset turnover of last year was 0.30786172. ==> This year's asset turnover is higher. ==> Score 1.

Evaluation

Piotroski F-Score= Que. 1+ Que. 2+ Que. 3+Que. 4+Que. 5+Que. 6+Que. 7+Que. 8+Que. 9
=1+1+0+1+1+0+1+1+1
=7

Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3

Cogeco Communications has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.

Cogeco Communications  (OTCPK:CGEAF) Piotroski F-Score Explanation

The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.

He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.

In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).

He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.

What he found was something that exceeded his most optimistic expectations.

Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.

Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).

Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.


Cogeco Communications Piotroski F-Score Related Terms

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Cogeco Communications Business Description

Traded in Other Exchanges
Address
1 Place Ville Marie, Suite 3301, Montreal, QC, CAN, H3B 0B3
Cogeco Communications is a telecom service provider in Canada and the US, specifically in rural and suburban geographies. It offers wireline services such as broadband internet, TV, and landline phone services. In Canada, the firm operates under its Cogeco Connexion and oxio brands, reaching roughly 2.1 million homes and businesses throughout Ontario and Quebec. In the US, Cogeco operates under its Breezeline brand throughout the East Coast, Pennsylvania, and Ohio, reaching 1.8 million homes and businesses. Cogeco is expanding its offerings to include consumer wireless services, operating as a mobile virtual network operator, or MVNO.